Orrick Advises ORIX Corporation USA on Equity Investment in Three Renewable Natural Gas Projects


June.22.2022

Orrick advised ORIX Corporation USA (ORIX USA), the U.S. subsidiary of ORIX Corporation, a publicly-owned Tokyo-based international financial services company, on an equity investment by its Special Opportunities group in three anaerobic digestion projects in Iowa and South Dakota that will produce usable renewable natural gas (RNG) while reducing greenhouse gas emissions. The three projects are expected to convert more than 194 million gallons of dairy manure annually into RNG, while removing 691,000 MMBtu of methane from the atmosphere each year. The projects, developed by leading biofuel developer and operator Dynamic Renewables, will be co-located with local dairy producers.

The investment follows ORIX USA’s 2021 investment in an anaerobic digestion facility in Wisconsin that will remove 650,000 MMBtu of methane from the environment per year once it reaches commercial operation later in 2022. With this transaction, as a follow-on to their 2021 investment, ORIX USA continues to leverage the know-how of their global renewables platform to increase their investment in the biofuel sector in the U.S. The investment aligns with ORIX Group’s global commitment to sustainability and reinforces ORIX USA’s position as one of the premier middle market financing firms in the U.S. that provides access to financing for a range of investors across the capital structure.

ORIX USA and its family of companies’ current assets include $26.9 billion of assets under management, $47.1 billion in servicing and administration assets and approximately $11 billion in proprietary assets. The Orrick team was led by Dahl Thompson and included Bob Lawrence, Darrell Thomas and Scott Cockerham.